As used in this article, the following terms shall have the
meanings indicated:
ACT or LERTA
Local Economic Revitalization Tax Assistance Act of the Commonwealth,
72 P.S. § 4722 et seq., as amended.
COUNTY
County of Montgomery, Pennsylvania, acting by and through
its Board of County Commissioners, or acting by and through its authorized
representatives.
ELIGIBLE PROPERTY
The property within the Township identified in this article
and attached as Exhibit A.
IMPROVEMENT
Repair, construction, or reconstruction, including alterations
and additions, having the effect of rehabilitating an industrial,
commercial or other business located on the eligible property and
owned by an individual, association or corporation so that it becomes
habitable or attains higher standards of safety, health, economic
use or amenity, or is brought into compliance with laws, ordinances
or regulations governing such standards. "Improvement" does not include
any ordinary upkeep or maintenance.
PERSON
Any individual, partnership, company, association, society,
trust, corporation, municipality, municipal authority, or other group
or entity.
SCHOOL DISTRICT
Methacton School District, Montgomery County, Pennsylvania,
acting by its Board of School Directors, or, in appropriate cases,
acting by and through its authorized representatives.
TOWNSHIP
Lower Providence Township, Montgomery County, Pennsylvania,
acting by and through its Board of Supervisors, or acting by and through
its authorized representatives.
The Township hereby designates the following property as a deteriorated
area determined within the meaning of the Act, and one in which the local taxing authorities may grant
a tax exemption pursuant to the provisions of the Act: 950 Rittenhouse
Road, Audubon, PA, 19403 as shown on the map and folio number attached
hereto as Exhibit A.
The provisions of this article shall expire upon the fifth anniversary
of its enactment, unless extended by ordinance duly adopted. Any property
tax exemptions granted under the provisions of this article shall
be permitted to continue according to the exemption schedule even
if this article expires or is repealed.
Appeals from the reassessment and the amounts eligible for exemption
under this article may be taken by the taxpayer or the local taxing
authorities as provided by law.